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Congress’ historic overriding of Obama’s veto of the bill that will allow the families of 9/11 victims to sue Saudi Arabia for its alleged role in the terrorist attacks — intentional or inadvertent — has potentially dangerous ramifications for the US but could result in a really positive effect for the price of gold.
The official federal government debt now stands just a tad over $19.5 trillion. Yet few talk about it, and even fewer are concerned. Off-balance sheet liabilities (commitments that have been made but funds not set aside for) are some where north of $100 trillion dollars. Rarely talked about.
From Dow Theory Letters, September 21, 2016: “Good news today from both the Fed and the Bank of Japan (BOJ). The Fed announced no rate increases for now, though hinted (or teased, to be honest) that one would come later in the year. In Japan, the BOJ said it would continue an easy monetary policy
Gold and silver have enjoyed huge upside moves so far in September, despite falling short of posting new highs for the year. Still, gold is up 24% on the year and silver 40%. One of the reasons for renewed interest in the metals is the failure of the European Central Bank’s €80 billion a month
Fed Chair Janet Yellen’s July proclamation that “the case for an increase in the federal funds rate has strengthened,” was nullified by a weaker than expected August jobs report. Only 151,000 jobs were added, short of the 180,000 forecast by economists and far short of the 275,000 added in July.
